![]() Located at 11 Wall Street in Lower Manhattan, New York, the NYSE is s the world’s largest stock exchange by market capitalization of its listed companies at $ 11.92 trillion as of August 2010. Here’s a brief look at both of these stock exchanges: ![]() However, CHX is still clearly notable in the American corporate landscape, being the third largest after New york-based NYSE and NASDAQ. Moreover, with the blooming importance of New York vis-a-vis Chicago for corporate development, the NYSE has become more significant over the years as compared to CHX. However, with the advancement in electronics and communications, it was no longer required to be physically present at an exchange for the purpose of trading. With Chicago and New York being the industrial powerhouses they are, most companies had been based out of these two cities over the last few decades, and it made sense to list their stocks in the local exchanges. Although this no longer holds true with the advent of online trading, for a long time this was the main reason behind having various stock exchanges. Thus, it is clear that different stock exchanges service different clients. ![]() To know the reason behind the existence of multiple stock exchanges like the New York Stock Exchange (NYSE) and the Chicago Stock Exchange (CHX) within the same country, let’s look at the definition of a stock exchange – “an entity that provides “trading” facilities for stock brokers and traders, to trade stocks, bonds, and other securities.”
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